Physician Mortgage Southfield Michigan

Benefits of a Physician Loan

  • Zero or Low Down Payment 0-10% is typical.
  • No Private Mortgage Insurance(PMI) saving you up to 1% annually. That is a $10,000 per year savings on a 1 million dollar home.
  • Student loan debt not counted against you. This allows you to qualify for a nicer home.
  • Higher loan limits up to 2 million are available typically at the same rate.
  • Ability to close 90 days prior to new employment beginning. Moving is stressful enough without starting a new job. Why move twice or pay huge premiums for long term housing.
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Whether or not you are a first time home buyer or purchasing a new home in Southfield Michigan, our vetted loan officers have a strong understanding of the local area real estate market and what it takes to secure your physician loan with proficiency and know-how.

Our loan officers in Southfield Michigan provide exclusive financing for doctors, exactly like you.

First off, let’s discuss why physician mortgage loans even exist. The reason is that doctors are very profitable clients for financial institutions. They take out big loans early in their careers and almost always pay them off. Lenders use physician home loans to lock in early career doctors by loaning them more money with a lot fewer terms than their competitors.

Physician Home Mortgage Experts In Southfield Michigan

If you are trying to find a physician loan in Southfield Michigan then you came to the right place.

You’ve worked very hard to become a doctor and purchasing home shouldn’t be nearly as challenging.

Did you know there is a special loan that makes it easy for doctors to buy a home?

A home loan specifically for doctors?

Yup, doctors get their own mortgage!

A physician home loan is a specialty loan program put together just for doctors in the home purchasing process.

We recognize the budgetary demands of your student loan financial debt, and how important it is to maintain working capital for when the time is right with embarking upon your career. Whether you are a couple years into practice, or a well established doctor, you can rely on us to find a home loan that is exclusively tailored for your needs.

Many physicians in Southfield Michigan may not qualify for conventional loans for various reasons such as minimal savings for a down payment, big student loan debt or minimal to no work history.

Despite these reasons smart loan providers know that doctors are a good choice considering that they generally have an extremely low nonpayment rate on loans, high earning potential and stable jobs.

Not all mortgage lenders offer this specialized product and within banks that do simply talking to the best mortgage loan officer makes a significant difference.

Benefits of Physician Mortgage Loans

  • Generally does not include student loan regular monthly payments in debt-to-income percentage.
  • Requires very low to no down payment (0-5 percent).
  • Usually does not necessitate private mortgage insurance (PMI), despite the fact that lower than 20 percent down payment.
  • Will accept a contract as evidence of future earnings, instead of pay stubs or W-2s, that don’t yet exist.

Buying a home doesn’t need to empty your savings and the process doesn’t need to drain your time.

Should You Put Cash Down?

What if you have some money to put down or are thinking about waiting until you have the money?

Our mortgage lenders can do the math for you and show you what each scenario looks like and the benefits of each too.

In most circumstances, you’ll get your mortgage paid off sooner and save thousands of dollars on interest too.

Additionally, don’t overlook that having equity in your house will provide more security and overall flexibility, especially if something unexpected happens. With the 100% financed physician home mortgage loan, you should expect to start out underwater. If something doesn’t work out and you are forced to sell quickly, you should be prepared to write a potentially large check for as much as 10% of the purchase price just to get out of the home.

No matter if you’re relocating down the road, across town or across the country, we are here to work with you throughout the physician home mortgage process:: because you deserve it!

Doctors, get the house of your dreams with our Southfield Michigan physician home loan program!

Less than an hour ago, doctors just like you requested a loan from the locations listed below.

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